Western Mines Signs Magnesite Supply MoU to Boost Mulga Tank Economics

The latest announcement is out from Western Mines Group Ltd ( (AU:WMG) ).

Western Mines Group has signed a Memorandum of Understanding with mineral technology company Magnium Australia to investigate supplying magnesite from its Mulga Tank project as feedstock for Magnium’s low-carbon magnesium metal production process. The near-surface oxidised “magnesite cap” above the Mulga Tank nickel sulphide deposit, currently treated as waste, has been shown by XRD analysis to contain up to 48% magnesite, and Western Mines will now work to define the extent of this zone and provide bulk samples for testing.

If test work confirms both the resource scale and suitability of the magnesite, the parties plan to negotiate a formal supply agreement that could convert overburden into a new revenue stream and significantly improve project economics. The potential partnership also supports Magnium’s strategy to build a domestic, low-carbon magnesium supply chain in Australia, addressing national supply security for a critical metal used in defence, aerospace and energy transition applications.

The most recent analyst rating on (AU:WMG) stock is a Sell with a A$0.19 price target. To see the full list of analyst forecasts on Western Mines Group Ltd stock, see the AU:WMG Stock Forecast page.

More about Western Mines Group Ltd

Western Mines Group Ltd is an Australian mineral exploration company focused on the Mulga Tank nickel-copper-cobalt-PGE project in the Minigwal Greenstone Belt in Western Australia’s Eastern Goldfields. The company targets large ultramafic systems hosting nickel sulphide mineralisation and associated critical minerals, positioning itself within the battery and critical metals supply chain.

Average Trading Volume: 171,739

Technical Sentiment Signal: Sell

Current Market Cap: A$22.75M

For a thorough assessment of WMG stock, go to TipRanks’ Stock Analysis page.